US home prices hit an all-time high as sales slow and mortgage rates rise

Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to prospective homebuyers’ affordability challenges. The National Association of Realtors said Thursday that existing home sales fell 2.4% last month from May to a seasonally adjusted annual rate of 4.09 million units. Sales rose 2.8% compared with June last year. The latest sales tally fell short of the roughly 4.21 million pace economists were expecting, according to FactSet. The national median sales price increased 1.8% in June from a year earlier to $440,600. The post US home prices hit an all-time high as sales slow and mortgage rates rise first appeared on KSTP.com 5 Eyewitness News .